E-commerce

E-commerce defined

Because electronic commerce can help organizations to achieve business goals by using the most effective technology to employ the power of the Internet, e-commerce rightfully encompasses all of the activities that heighten a customer's interest before, during, and after a sale. In this way, e-commerce can be used to create brand equity and to improve an organization's public image, as well as to develop and strengthen direct relationships between an organization and its customers, distributors, suppliers, and retailers.

Cost of ignoring E-commerce

Not moving to the Web means more than just staying in the dark ages of business technology. It means that organizations won't be able to compete as well in their markets because they won't be able to exchange information with business partners and customers as easily. Ignoring e-commerce amounts to ignoring access to information and other resources that competitors will have. Lack of information is an organizations greatest enemy and prevents it from competing effectively, particularly if an organization's competitors know something they don't. Making too many bad business decisions means no more business!

Benefits of implementing E-commerce

E-commerce techniques allow small businesses to have access to the same markets as larger businesses. Small organization can have instant access to international markets. Customers all over the world can access your Web site and buy your products whether your company has one full-time person or one thousand full-time employees. Small business can grow very quickly and can eventually take on larger businesses in their markets. Smaller businesses may also be able to provide a personalized experience for customers who came to their Web site more easily than larger businesses that have to deal with the bureaucracy involved in designing a Web site.

Benefits of E-commerce

• Offers new ways to manage supply and value chains, to enhance manufacturing, logistics, and distribution systems, and to link business partners together in a seamless business operating environment.
• Provides organizations and individuals with the ability to buy and sell products, services, and information on the Internet.
• Automates business transactions and the flow of information between organizations.
• Helps organizations cut customer service costs while improving the quality of service and increasing the ability of the organization to better manage the customer relationship.

Why is E-commerce a Business Imperative?

To survive, organizations must compete in an environment in which consumers expect more for less. E-commerce enables organizations to operate at lower costs while maintaining or even increasing revenues. E-commerce also can reduce business cycle times by increasing the speed and accuracy of transactions processed with fewer people. These results can, in turn, improve business partnership quality.

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